What is the accounting treatment for repurchase of preferred shares & what is the impact on financial statements?

asked Sep 14, 2018 in General Principles by anonymous

What is the accounting treatment (journal entry) for repurchase of preferred shares & what is the impact on financial statements? e.g buying back 500,000 preferred shares for $2,000,000

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What is the accounting treatment for repurchase of preferred shares & what is the impact on financial statements?

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